Egypt witnessed a large-scale economic growth in 2007 accompanied by enhanced business environment, the implementation of new structural reforms, and the rapid inflow of foreign direct investments, which led to the remarkable growth and development of the Egyptian economy and contributed to attracting a large number of international and regional financial institutions to work in Egypt.
The National Bank of Kuwait (NBK) acquisition of Al Watany Bank of Egypt (AWB) in 2007 was a strategic alliance with exceptional capabilities and resources that provided the Bank with unique access to the region’s most vibrant segments in an increasingly competitive banking environment.
Since the acquisition the Bank has been dedicated to building a sustainable energetic future for clients and corporations operating in Egypt and the Middle East.
Al Watany Bank of Egypt (AWB was established in 1980, based on a long-term vision of a number of distinguished Egyptian businessmen, and upon its acquisition, it has been successfully progressing towards growth and taking steady steps in light of the promising economy that the country was witnessing at that time. The National Bank of Kuwait kept the name of Al Watany Bank of Egypt, and contented itself with adding the phrase “a subsidiary of The National Bank” on the bank’s logo, and this name continued until the first half of 2014, when the name and logo of the bank was changed to National Bank of Kuwait.
In 2008, the capital of the National Bank of Kuwait was increased to reach one billion Egyptian pounds.
Upon its acquisition, the number of Al-Watani Bank of Egypt's branches was 24. Soon the National Bank of Kuwait adopted a strategic plan for expansion to increasing them to 53 branches and 137 ATMs distributed all over Egypt
The bank has total assets amounting to 62 billion pounds, a loan portfolio reaching 34.5 billion pounds, and deposits of 49.7 billion pounds, according to its financial statement at the end of December 2020.
